Citing the severity of the recession, the Obama administration today raised its projection from $7.3 trillion to $9 trillion over the next 10 years.
The Office of Management and Budget also predicted that the economy would contract 2.8% this year and unemployment would peak at 10%.
Administration officials said they are raising the projections, which also include the costs of part of their health care reform proposals, because the economy hasn't recovered as quickly as they had predicted.
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